5 things you need to know today

1. China has given Australia ten days to justify why they should not increase tariffs for Australian imports into China, particularly on Australian barley.

2. Over 20.5million workers were made redundant in the past month due to coronavirus, as the US jobless rate matched the post-war record lows of 14.7 per cent. Experts say the jobless rate could be as worse as the Great Depression in the US.

3. Boris Johnson has announced a "conditional plan" to slowly lift coronavirus lockdowns in the UK.

4. The coronavirus has hit President Trump's circle as two of his close staff members tested positive for COVID-19. The White House health advisor, Dr Anthony Fauci will be isolating and is the third member of the White House coronavirus task force to enter quarantine.

5. The ASX is expected to open on a high, after Wall Street closed on a high. The Dow closed up 1.91% to 24,331.32, the S&P 500 was up 1.69% to 2,929.80 and Nasdaq soared higher for its fifth consecutive day, closing up 1.58% to 9,121.32 on Friday.